Borsa İstanbul’s Bell Rang for İzmir Fırça İzmir Fırça Sanayi ve Ticaret A.Ş., engaged in the manufacturing and exports of brushes for oil paint, cleaning and mop group, automotive industry and whitewash group since 1993, started being traded on Borsa İstanbul Emerging Companies Market with the ticker code “IZFAS” on July 7, 2014. İzmir Fırça Sanayi ve Ticaret A.Ş., engaged in the manufacturing and exports of brushes for oil paint, cleaning and mop group, automotive industry and whitewash group since 1993, started being traded on Borsa İstanbul Emerging Companies Market with the ticker code “IZFAS” on July 7, 2014. On this occasion, a bell-ringing ceremony was held at Borsa İstanbul with the participation of Borsa İstanbul Executive Vice President Mustafa Kemal Yılmaz, İzmir Fırça Sanayi ve Ticaret A.Ş. Chairman Orhan Dilberoğlu, and Vice Chairman Natan Kohen. The Company offered 30.62% of its equity capital to the public at a price of TL 1.85 per share. With İzmir Fırça, the number of companies traded on Borsa İstanbul has reached 423 In the ceremony, Borsa İstanbul Executive Vice President Mustafa Kemal Yılmaz said, “İzmir Fırça is the 423rd company traded on Borsa İstanbul. We strive to attract small and medium sized companies to Borsa İstanbul and allow them to benefit from the opportunities offered by the capital markets. We aim to encourage small and medium sized companies to increase their manufacturing activities, and increase their capacity. İzmir Fırça has raised an amount of approximately TL 6 million through this public offering, and will use this fund to manufacture products that have so far been imported. This is an important development since the current account deficit has a significant place in Turkey’s economic agenda. Decreasing the current account deficit will be possible by making small and medium sized companies (SMEs) to make use of the opportunities offered by the capital markets. This is an important year with regard to the issuing of debt securities as well. Compared with the first half of last year, funds raised through the issue of debt securities and lease certificates increased by 37% to TL 32.5 billion. In the forthcoming period, we will increase the number of public offerings, as well as allow companies to make use of other resources for funds, and continue to contribute to the economy”. Our Public Offering will set an Example for Turkish SMEs İzmir Fırça Sanayi ve Ticaret A.Ş. Vice Chairman Natan Kohen said, “İzmir Fırça’s partners have been in this sector for 40 years, and established the company in 1993. Our company has been a pioneer in its sector. Today, we realized the first public offering of the sector. Nobody, but our partners believed that this public offering would be realized. We did. The public offering of our Company will set an example for the Turkish SMEs and particularly, those established in İzmir. The funds raised through this public offering will strengthen the Company’s financial structure, thereby increasing profitability, efficiency, and employment, in addition to institutionalization while pleasing the investors”.
Posted on: Mon, 21 Jul 2014 10:17:45 +0000
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